Springfield daily republic. [volume] (Springfield, O. [Ohio]) 1887-1888, 1887-01-14
BUCKET STOP RUNNERS.
ORESSY LoAFeRS WHO LURE THE
UNWARY TO FINANCIAL RUIN.

oReSSY LoAFeRS WHO LURE THE
UNWARY TO FINANCIAL RUIN.
Schemes to Make Money Through ths
Greed and Innocencs of tho Uninitiated
Gambler-SIy Thiere. In the STOCK
Market.
Flashily dressed men, who were never
known to buy a cents worth of stock who
are not brokers, either regular or Of the
curbstone variety. nor yet brokers clerks
but who nevertheless hang around the lively
ticker and talk as giibly Of stocks and mar
gins and puts and calls as the busiest oper,
ator in the market, can be seen any day in
Wall street. What they do has long been
a mystery to many people on the street, ~
and how they contrive to always be so well
supplied with ready money is something
which has perplexed those to whom their
faces are as familiar as the dial of Trinity
church clock.
These individuals have become more and
more numerous of recent years To the
initiated they are known as ''touts," which
is Wall street slang for the givers of tips
or points" on the prospective value OF
stocks. Many a shorn lamb has learned
from bitter experience that the tout is
not infallible in his prognostications. The
methods of this parasite are peculiar and in .
teresting. The way in which he swindles his
unsuspecting victims was we'll illustrated
the other day in Broad street bucket shop.
A reporter happened into the place. and
/ there saw one of the neatest swindler who
ever went unpunished
SUCCESSFUL "TOUT"
He was one OF the most successful touts''
on the street. His clothes were of the loud
est check Obtainabls. His tall hat was very
shiny. His watch chain weighed about a
ton-mOre or less. He carried thick Eng
I lish club with an enormous buck horn
crutch His mustache was large, and of
that peculiar greenish black color SO often
seen on gamblers and confidence men 1t
was about / o'clock in the afternoon, and
the place was full of patrons. The tout
was talking i'll a loud tone to the bucket shop
/ proprietor. They were both laughing, and
appeared excited.
'Where'd you get the tip" asked the
bucket shop man.
| The tout whispered in his ear. The
bucket shop man stood Off a few feet and his
| face wore an expression OF astonished id
] miration.
Realty he asked; lis that straight,
Why, he's the biggest man in the board"
YES, l know; big friend Of mine; often
! gives EN- to me; I'll let you in; sure thing;
so long, see you later" and the man with
| the big green mustache turned to 60,
| Before he could reach the street. however
a lamb, who had caught scraps of the con-
versation, intercepted him
l arin air ha l.,
with an apologetic bleat, but understand
you have good tip on the market, sir. "
The tout seemed annoyed.
Who told you l had a tipg'' he asked,
''and what if have'''
"If you will give it to me l will make il
sll right" said the lamb.
How don't understand you"
II will give you half make by using the
information
will you deposit $50 with the gentle
man here as a guarantee of good faith"
Yes" said the lamb, but of course if
don't win you will get nothing
Certainly" said his tutorship, ali
want is that you will not give the tip away 1"
The lamb agreed and deposited five $40
bills. Then the sharper took him aside and
whispered TO him that if he would buy 100
shares of B. F. and H. stock at the market
price it would shortly jump from three to
five points, owing TO a consolidation Ibout
to be made with the C. c. and B. Z. r. r.
He had just received this i .o-mation from
one OF the directors of the litter road
CERTAIN TO WIN.
Shortly after this the tout and the toutee
went to an obscure bucket shop, and there
the victim bought his 100 shares on per
cent, margin. This was only the first part
OF the tout's little game. As soon as he saw
the money paid for the margin he excused
himself and went around the corner to
another buckle shop on New street
There, after throwing out some dark hints
TO The proprietor, he caught another gud-
geon. Almost the same conversation as
was had with victim No. was gone through
with, the only important difference being
that this tirne the advice was TO sell 100
shares Of Il. F. & II. The second lamb
meekly went to the slaughter house recon-
mended by the tout, and deposited his three
per cent margin. This completed the tout's
work He was now secured no matter which
way the market went. In gamblers slang
he had a sure thing" The cat could
Jump in either direction, but he was certain
to reap profit. The tout went to dinner
with an easy mind, and slept that night
the sleep of a little child, free from all care
and worry.
As it happened, in a few days a rumor
was circulated that foreclosure proceedings
were to be begun against the B. F. and H.
r. R. and the price of its stock was ham
mered down five and one half points. Tho
tout was promptly on hand at the bucket
shop. where lamb No. 2 was eagerly watch
ing the quotations He was told TO close out.
He did so at once and made a profit of
about 500. This he divided with the tout.
Lamb No OF course lost all that be had
put up, but somebody had to lose for the
tout TO win That is part Of the game.
The tout is as unscrupulous in his methods
as the "bunco steerer, and his profits are
much greater and surer. He runs no risk
of going to the penitentiary. He makes
many enemies, but always gains q friend at
the same time This friends turn to lose
comes later. The tout is responsible for
hundreds Of ruined men and wretched, pow
erty stricken homes. He is in league with
all the bucket shop swindlers. He has as
many "cappers' or 'ropers in" as any skin
gambling den, and he goes about his work
scientifically. He always has the excuse
when he is reprosched by those he has
ruined that he himself was taken in, and that
he gave the tip honestly.-New York Star.
The Great American Desert
When railroads first touched the Missis-
sippi river at Burlington-about 1852 or
1853 it must have been-a great celebration
was held on the east bank and a commend
able glorifcation indulged in. The speakers
we're Stephen A. Douglas and Lewis Cass.
Mr. Cass in his speech referred to the fact
that according to all school histories and
biographies previous to that time they must
have been very near the great American
desert; but, he said, las this desert constantly
recedes as we approach it it will probably
be found there is no desert at all. :"
Men now under so years of age when at
school studied Biographies which located tho
American desert lying in the western half Of
Iowa and extending to the Rocky mount
Al